In the ‘red’ the European markets with losses close to 1.5% – ‘Dive’ for technology

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LAST UPDATE: 11.15

European stocks are moving in the red on Tuesday, with investors interested in focusing on growth data in the Eurozone as announcements are expected for the composite PMI index for November, and while cases in the region are rising again rapidly, with bloc countries to take stricter measures to contain the pandemic.

This development evokes unpleasant memories of the domino lockdown that took place last year, when Europe was at the center of the pandemic, and which led to a recession in economies, with investors fearing that a new round of restrictive measures could undermine the recovery of economies again.

Today, German Health Minister Jens Spann called for additional restrictions in order to stop the “dramatic” increase in covid-19 cases in the country. Span called for more public places to be accessed by those vaccinated against covid-19 or those who have recovered and tested negative for coronavirus, in an effort to curb the fourth wave of the epidemic in Germany.

The Minister of Health did not rule out the possibility of imposing a lockdown, although he explained that this will be decided by the governments of the states.

As of yesterday, Angela Merkel warned of the possibility of stricter restrictions on Europe’s largest economy in order to control the latest wave of the pandemic.

The German chancellor has warned CDU officials that the restrictive measures in place in Germany are “not sufficient” in the face of the “dramatic situation” caused by the resurgence of coronavirus cases in the country, according to party sources, adding that if it does not stop the fourth wave of the pandemic hospitals face a very serious problem.

It is noted that from Friday the Austria is on universal lockdown, while the Austrian government has announced that vaccination of the population will also become mandatory from 1 February.

At the same time, the European market will weigh Joe Biden’s decision to nominate Jerome Powell for a second term as head of the US Federal Reserve. The Wall was hit by a rally in US bond yields in the wake of the US president’s decision with the S&P 500 and Nasdaq losing despite intra-conference records.

The move, however, has raised expectations that the Federal Reserve will remain firm in its monetary policy as the economy recovers from the pandemic and tries to fight inflation.

In this climate, the pan-European index Stoxx 600 is down 1.4% to 478 points, with the technology sector recording the largest losses with a fall of 2.9%, while the core resources sector is moving with a positive sign (+ 0.2%).

In the individual dashboard, the German DAX loses 1.17% to 15,920 points, the French CAC 40 slides by 1.05% to 7,030 points and the British FTSE 100 falls 0.47% to 7,220 points.

In the periphery, the Italian FTSE MIB the Spaniard loses close to 1.5% to 26,970 points IBEX 35 records losses of 1.07% at 8,730 points.

In the individual shares, the German group Thyssenkrupp is down 6.4% after reports that the Swedish fund Cevian will buy 6.9% of the company.

At the top of the European index of blue chips, the Belgian real estate company Cofinimmo gains 2.4%.

In other news, the Italian antitrust authority has imposed A total of more than 200 million euros in fines for US tech giants Amazon and Apple for allegedly colluding in the sale of Apple and Beats products.

The stock markets of the Asia-Pacific region present a mixed picture on Tuesday, with the “technology” also the technology sector.

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